David A. Altro is a frequent contributor to Paul Delean's business column in the Montreal Gazette. Click here to view the article online or scroll down to read David's answer to the second question. Tax strategy: Transferring U.S. property can be costly PAUL DELEAN The Gazette Monday, January 21, 2013 What happens to RRSPs when the [...]
One of the key pillars to estate planning is preservation of wealth by keeping assets away from one’s creditors throughout one’s lifetime. Often, it is the principal residence that is considered a person’s most valuable asset and within reach of creditors in order to satisfy their claims. I recently met with my client Roy and Julie, [...]
David A. Altro is a frequent contributor to Paul Delean's business column in the Montreal Gazette. Click here to view the article online or scroll down to read David's answer to the second question. Pensions will be paid to Canadians living in U.S. PAUL DELEAN The Gazette Monday, January 7, 2013 Moving to the U.S., buying [...]
Just hours before midnight on New Years Eve, the US Senate hammered out a tentative deal to avoid sending the country over the Fiscal Cliff. Yesterday, a reluctant, Republican-controlled House of Representatives has also blessed the plan, which deals with many of the major tax issues at stake, while pushing back the spending issues to later [...]
Pierre, a client of ours from Quebec, came to us with a problem. He owned a condo in Florida, and since Micheline recently passed away, he did not want to go to the vacation home anymore and wanted to sell it. The title ownership was in Micheline’s name alone, but her Quebec notarial will left [...]
For whatever the reason, each and every day people make the decision to move away from their native country to pursue a life elsewhere. Whether it is a dual citizen looking to give up their passport of one country, or someone looking for a fresh start, the tax implications of being an expatriate are a complicated [...]
This year, Altro & Associates was proud to be present as a Platinum/Platine sponsor at the Bal Réseau Sélection in a night to honour their residents. It was a lovely event with dinner, dancing and entertainment that we are happy to participate in. The event supports many charitable causes in the Montreal area, for which we [...]
David A. Altro has been a proud member of STEP since 2006 and was very pleased to participate in a 60-second interview with the organization when he was asked to be a featured member in one of their October 2012 STEP Journal newsletters. You can read David’s answers below or see the STEP newsletter online for [...]
US citizens who live in Canada are liable for US gift and estate tax on their worldwide assets, even if they have never actually lived in the US. This means that assets transferred during life or on death are taxed by the IRS at rates of up to 35%, subject to certain annual and lifetime exclusions. [...]
Due to the continuing uncertainty regarding U.S. estate tax rules for Canadians who pass away owning U.S. real estate in their names personally, you may find interesting the below article published in The New York Times on August 1, 2012. The House approved a one-year extension to the Bush-era tax cuts but it is unlikely that [...]
